Tagged: Russia sanctions

DOJ Charges Two Companies and A Dozen Individuals for Export Control and Sanctions Violations to Aid Russian Military

The Justice Department promised aggressive enforcement of export controls and sanctions against Russia.  To that end, DOJ initiated the KleptoCapture task force to focus law enforcement investigations of export violators.  DOJ and the KleptoCapture task force have delivered.  The first significant case confirms the importance of tracking DOJ and law enforcement resources.  When an initiative is announced and includes assignment of personnel, you can rest...

DOJ Charges Russian Oligarch Oleg Deripaska and Three Associates for Sanctions Evasion and Obstruction of Justice

In a significant action, the Justice Department brought criminal charges against the notorious Russian Oligarch, Oleg Deripaska, for sanctions evasion and obstruction of justice.  DOJ also charged three associates, Natalya Bardakova, a Russian citizen, Olga Shriki, a New Jersey resident and United States citizen, and Ekaterina Voronina, Deripaska’s girlfriend.  Shriki is also charged with obstruction of justice for deleting various electronic records after she received...

Russian Sanctions Update: Five Months into the War in Ukraine

Jessica Sanderson, Partner at The Volkov Law Group, re-joins us for a posting on the current state of sanctions against Russia. Jessica can be reached at [email protected] It’s been five months since Russia invaded the Ukraine, and the United States has imposed a succession of increasingly severe economic sanctions on Russia and Belarus. A recent study published by Jeffrey Sonnenfeld, a Professor in the Practice...

United States Pushes More Sanctions Against Russia and Prohibits Russian Gold Imports

The Department of Treasury issued additional sanctions against Russia, targeting almost 100 entities and individuals, and prohibited import of Russian gold.  The United States’ latest action reflected commitments recently reached among the G-7 alliance to prohibit gold imports and target Russia’s industrial base, military and intelligence units, and sanctions evaders.  To follow up on these commitments. FinCEN and the U.S. Department of Commerce announced their...

Sanctions in the Twenty-First Century: UK Imposes Social Media Restrictions in Response to Continued Russian Aggression

Alex Cotia, Regulatory Manager and Compliance Adviser at The Volkov Law Group, rejoins us for a post on the United Kingdom’s Russia Sanctions against social media. Alex can be reached at [email protected] Under a statutory instrument promulgated under the Sanctions and Anti-Money Laundering Act 2018 (amending the Russia (Sanctions) (EU Exit) Regulations 2019)), the UK government recently passed sweeping new trade restrictions on the provision...

Avoiding Compliance Overkill — Properly Assess and Manage Tangible Risks

Alex Cotoia, Regulatory Manager and Compliance Consultant, rejoins us for a timely posting on compliance overkill in this era of aggressive sanctions enforcement. Alex can be reached at [email protected] The uptick in recent sanctions activity caused in large part by the Russian Federation’s unprovoked and unilateral invasion of Ukraine has caused absolute pandemonium in many compliance circles. While the U.S. Department of Justice (and the...

United States and EU Expand Russian Sanctions and Export Controls

In its continuing ratcheting of sanctions against Russia, the United States and the European Union have announced new sanctions and export controls to target additional industries and government officials.  In a new front, the US and EU included a ban on accounting and business consulting services.  The new US restrictions extend to broad export controls and sanctions focused on Russian banking executives, a weapons manufacturer...

Administration Proposes Legislative Changes to Enhance Asset Forfeiture, Sanctions Enforcement Against Russian Government and Oligarchs

As part of the United States governments effort to support Ukraine in its war against Russia, the Biden Administration sent to Congress a number of legislative proposals in addition to a supplemental request for an additional $33 billion in funding. The legislative package addresses a number of important issues and is aimed at assets owned by the Russian government and oligarchs.  The proposal includes: Revisions...

United States and Europe Ramp Up Sanctions Against Russia and Target Sberbank, Alfa Bank and “New Investments”

On April 6, 2022, the United States and Europe announced new sanctions on Russian banks – Sberbank, the largest bank in Russia, and Alfa Bank, another large financial institution.  The new Executive Order imposes full blocking restrictions on the two banks. Sanctions were also imposed against additional Russian government officials, security officials. oligarchs and their family members. The new sanctions designated Russian President Putin’s two...

Putin’s Puppets Pick on Peppa Pig: Intellectual property rights are collateral damage in the economic war between Russia and the nations supporting Ukraine

Jessica Sanderson, Partner at The Volkov Law Group, joins us for an interesting posting on the impact of Russia sanctions on intellectual property. Jessica can be reached at [email protected] As we’ve reported elsewhere in our blog, the U.S., EU, and other nations recently have enacted significant economic sanctions against Russian individuals and entities in response to Russia’s invasion of Ukraine. Russia is striking back, and...